July 23, 2020 / 9:37 AM / in 18 days

China state-owned firms' first half profits down 38.8% year-on-year: ministry

FILE PHOTO: People wearing protective face masks walk past office buildings in Lujiazui financial district in Pudong, in Shanghai, following the coronavirus disease (COVID-19) outbreak, China June 4, 2020. REUTERS/Aly Song

BEIJING (Reuters) - Profits at China’s state-owned firms in the January-June period fell 38.8% year on year to 1.12 trillion yuan ($160.11 billion), the Finance Ministry said in a statement on Thursday.

Reporting by Lusha Zhang and Kevin Yao; editing by Jason Neely

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